Dubai or not Dubai
The Dubai firm, Dubai Ports World, that was planning on taking over control of management operations at six major U.S. ports has withdrawn its bid.
It seems pretty likely to me that this was done at the behest of the Bush administration who found themselves in a pretty uncomfortable position. The president had vowed to veto Congress if they blocked the sale and Congress was clearly planning on doing so. The president's popularity is as low as its ever been and his political clout is greatly diminished. Their withdrawal saved him from a pretty awkward moment when he used his veto to protect his mideast friends, especially in light of the mismanagement of the Katrina disaster.
Posted on March 10, 2006
